Vandalur – GST Road – ON THE HIGHWAY TO GROWTH

The GST road is in more ways than one, the real PULSE of the city. It is because of this road that Chennai catapulted into the limelight and the real estate market was teeming with a multitude of residential, manufacturing, automobile and IT industry projects being developed simultaneously.

Chennai has seen a stable and consistent pattern of growth in the main areas connected via the GST road. The extent of this boom is such that even fringe areas are in great demand and one can find many small to medium housing projects here. The Chennai ORR (Outer Ring Road) project is expected to be another driver that will stimulate massive growth of real estate. Phase one of ORR, which is under construction now, is a 30 km-long six-lane road connecting Vandalur with Nemilicheri, taking into its ambit south and north Chennai.

VANDALUR- GST ROAD- A SUCCESS STORY IN THE MAKING

The ORR connects to Vandalur in NH-45 (GST). The development of this highway has put Vandalur in the spotlight with the area now being hailed as the ‘entrance gate for Chennai city’. Vandalur is no longer a sleepy southwestern suburb; in fact it has witnessed a tremendous spate of real estate development and is abuzz with a frenzy of home buyers and commercial property acquisitions.

Vandalur is already a well-connected area, what with the railway station of the Chennai suburban rail, bus stand and the proposed plans for a mono and metro rail that will increase the connectivity with the proposed Vandalurmofussil bus terminus.

Who’s buying?

Over time, a pattern has emerged in the characteristic buying trends of residential homes and properties. Information Technology is the chief driver for buying trends in OMR and GST with areas such as Tambaram and Vandalur in its ambit. Even a huge influx of NRI investors forms a large chunk of home buyers.
The presence of SEZ’s along the GST road has given a greater stimulus to high budget residential apartments in Tambaram; Vandalur on the other hand has seen a slew of mid-budget housing.

Early bird investors, with a keen sense of foresight invested along this stretch of GST and they’ve reaped nothing short of a bounty. Residential apartments in Tambaram and Vandalur have seen a phenomenal multi-fold increase in psf (per square foot) rates.

There maybe allocation for mass rapid / light rail transit systems on the GST stretch and with the additional development plans, there is a feeling of positive anticipation among flat buyers and commercial enterprises that the winds of change have only just begun.